Sprott Asset Management LP Receives Unitholder Approval for the Merger of Sprott All Cap Fund into Sprott Canadian Equity Fund

TORONTO, Dec. 13, 2012 /CNW/ - Sprott Asset Management LP ("Sprott") has received unitholder and regulatory approval to proceed with the proposed merger of Sprott All Cap Fund into Sprott Canadian Equity Fund. The merger is expected to be effective as of December 14, 2012.

As described in the announcement made on October 10, 2012, on the effective date of the merger, holders of units of each series of Sprott All Cap Fund will receive units of the equivalent series of Sprott Canadian Equity Fund, determined on a dollar-for-dollar basis. As soon as possible following the merger, Sprott All Cap Fund will be wound up.

Unitholders will not be required to pay any redemption fees, sales charges or other fees associated with the termination of Sprott All Cap Fund.  All costs associated with the termination of Sprott All Cap Fund will be borne by Sprott.

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Sprott Asset Management LP (www.sprott.com), a wholly owned subsidiary of Sprott Inc. (www.sprottinc.com), is a fund company dedicated to achieving superior returns for its investors over time. Sprott Asset Management LP manages assets primarily for institutions, endowments and high net worth individuals and is the investment manager of the Sprott Mutual Funds. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing.  Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. The information contained herein does not constitute an offer or solicitation by anyone in the United States or in any other jurisdiction in which such an offer or solicitation is not authorized or to any person to whom it is unlawful to make such an offer or solicitation. Prospective investors should consult their financial advisor to determine if the Sprott Mutual Funds may be sold in their jurisdiction.

SOURCE: Sprott Asset Management LP

For further information on Sprott Asset Management LP and the Sprott Mutual Funds, please visit www.sprott.com or call us at 866 299-9906 or email us at [email protected].